Kennedy Capital Management Inc. reduced its position in shares of Commercial Metals (NYSE:CMC) by 33.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,136 shares of the basic materials company’s stock after selling 198,416 shares during the period. Kennedy Capital Management Inc. owned 0.34% of Commercial Metals worth $8,339,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Commercial Metals by 2.3% during the 4th quarter. BlackRock Inc. now owns 14,686,246 shares of the basic materials company’s stock worth $313,111,000 after acquiring an additional 333,388 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Commercial Metals by 0.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock worth $85,090,000 after purchasing an additional 35,385 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in Commercial Metals by 9.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 3,293,028 shares of the basic materials company’s stock worth $70,207,000 after purchasing an additional 274,883 shares during the period. Janus Henderson Group PLC lifted its stake in Commercial Metals by 36.3% in the third quarter. Janus Henderson Group PLC now owns 2,035,305 shares of the basic materials company’s stock valued at $38,732,000 after buying an additional 541,829 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in Commercial Metals by 1.6% in the third quarter. Hodges Capital Management Inc. now owns 1,057,486 shares of the basic materials company’s stock valued at $20,124,000 after buying an additional 16,490 shares during the last quarter. 88.25% of the stock is currently owned by institutional investors.
Commercial Metals (NYSE:CMC) traded down $0.83 on Wednesday, hitting $24.53. The stock had a trading volume of 2,057,559 shares, compared to its average volume of 1,700,000. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $26.72. The company has a market capitalization of $2,860.00, a PE ratio of 45.43 and a beta of 1.20. The company has a current ratio of 3.20, a quick ratio of 2.07 and a debt-to-equity ratio of 0.56.
Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. analysts anticipate that Commercial Metals will post 1.43 earnings per share for the current year.
A number of research firms have issued reports on CMC. ValuEngine upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Bank of America cut shares of Commercial Metals from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $25.36 to $28.00 in a research report on Wednesday. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Commercial Metals from a “neutral” rating to an “overweight” rating in a research note on Friday, March 9th. Finally, Zacks Investment Research cut Commercial Metals from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Commercial Metals presently has a consensus rating of “Hold” and an average price target of $22.38.
In other Commercial Metals news, EVP Tracy L. Porter sold 6,935 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total value of $174,345.90. Following the transaction, the executive vice president now owns 10 shares of the company’s stock, valued at $251.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam R. Hickey sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $25.50, for a total value of $510,000.00. Following the sale, the chief accounting officer now directly owns 15,632 shares in the company, valued at approximately $398,616. The disclosure for this sale can be found here. Insiders have sold 60,536 shares of company stock worth $1,541,915 in the last ninety days. 1.50% of the stock is currently owned by insiders.
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About Commercial Metals
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
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